GlobalData report: China will account for more than 25% of global offshore wind power installed capacity by 2030

Key words: Offshore wind power; Wind power installed capacity ; Wind power market

By 2030, the global offshore wind energy market is likely to grow sevenfold, mainly due to the addition of wind turbines in the three major markets of China, the United Kingdom and the United States. China will lead the competition for offshore wind farms and is expected to add more than 25% of the installed offshore wind power capacity by 2030, followed by the United Kingdom (16%) and the United States (11%).

GlobalData, a leading data and analysis company, said that China is expected to become a mainstream market due to its favorable policy initiatives and the emergence of national or provincial government goals.

Ankit Mathur, Director of Power Practice at GlobalData, said: “GlobalData’s analysis shows that by 2021, China is expected to lead the global offshore wind power generation and will account for more than 25% of the global cumulative installed capacity by 2030. By 2030, offshore wind power generation It is expected to reach more than 203 GW, of which China (41.6 GW), the United Kingdom (27.5 GW) and the United States (18.9 GW) will lead the way.

GlobalData's energy database has tracked about 60 GW of in-process companies in different stages of development. Currently, China’s offshore wind power industry is dominated by Chinese state-owned energy companies, and foreign companies are cooperating with Chinese companies to participate in this important long-term market opportunity.

China has a huge potential for wind energy resources. Its onshore developable potential is estimated to be 2,380 GW, and offshore nearly 600 GW. Several deepwater projects more than 40 kilometers from the coast have identified key locations for the construction of the project nationwide, with wind speeds ranging from 6 to 10 m/s.

Mathur concluded: “The growing demand for sustainable green energy expansion in China’s power generation structure sets the tone for expansion into China’s uncharted waters. In addition to the benefits of green energy, the growth of China’s offshore wind power industry will benefit all industries and The value chain provides huge employment opportunities and plays a key role in long-term economic activities. In order to make this expansion a reality, the government and industry participants must simplify the process of project approval, establish a reliable supply chain and reduce the impact on investors Factors of funding uncertainty."

Source from China Wind Power Network

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